The post Asia and Oceania Lead in 2024 Global Crypto Adoption Index appeared on BitcoinEthereumNews.com.

The paper Chainalysis evaluates crypto adoption across all continents globally and releases annual reports and comes up with a system for ranking the top performing countries in terms of crypto adoption index.  Central & Southern Asia and Oceania (CSAO) between July 2022 and June 2023 commanded 19.3% of all the cryptocurrency received.   Countries in the CSAO currently occupy the top 20 spots in the global crypto adoption index. Here are some of the reasons why this is the case.  High Grassroots Adoption Grassroots crypto adoption focuses on more than just countries that have the highest raw transaction volumes because it is rather obvious that the wealthiest countries are far ahead on that.  Instead, grassroots adoption highlights the countries whose average everyday citizens are embracing cryptocurrency the most. Therefore, the Global Crypto Adoption Index identifies the countries where a significant number of people are converting the greatest fraction of their wealth into cryptocurrency.  So, CSAO countries such as India, Pakistan and Philippines are in top positions in the global cryptocurrency adoption index because a large percentage of their populations own crypto relative to their wealth levels.   Young, Tech-Savvy Populations Many of the CSAO countries have a median age under 30. Younger generations are more familiar with technology and are more likely to be early adopters of new financial technologies like crypto.  For example, the total population of Vietnam as of 2023 was 98.8 million and out of this, around 20 million people owned some form of cryptocurrency. Furthermore, as of the year 2022, around 70% of the people owning crypto in the country fall between the ages of 18 and 34.   Methodology The global cryptocurrency adoption index for the CSAO region combines on-chain data like web traffic patterns to estimate the transaction volumes for different types of cryptocurrencies.   The index is…

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Filed under: News - @ July 16, 2024 1:14 pm